An India Pale Ale (IPA) brewed by
Sierra Nevada Brewing Company
Chico, California USA
Pours into a tulip glass with a huge fluffy, nearly tan head – very nice. The lacing is strong and thick. The aroma is strong on the hops. It is very bitter on first taste and never really smooths out but after a few sips and as the palate starts to evolve a slight malt backbone comes out. A very impressive selection from Sierra, especially for a hop head. I really surprised my self rating a Sierra this high. It certainly could use a bit more depth but that isn’t what this one is about.
My ratebeer.com score: 4.1
The Wall Street Journal is reporting that sales of beer have gone flat in emerging countries. You can read the full article here. The author, David Kesodel says that beer sales in emerging economies are cooling, sapping a key source of profit growth. The abrupt weakness, especially in Eastern Europe, is putting pressure on brewers’ profits and could accelerate consolidation in an industry that has seen several multibillion-dollar deals in the past few years. Here is an outake:
InBev NV, the brewer of Stella Artois and Beck’s, said Thursday that beer unit volume in Russia dropped 11 percent in the third quarter, compared with a 14 percent increase a year earlier. Volume in Brazil rose just 1.1 percent. InBev, based in Leuven, Belgium, said net income fell 14 percent to <euro>447 million ($557.4 million). Revenue rose 4.5 percent to <euro>3.95 billion.
Carlsberg AS Wednesday said unit volume in Russia, where it has a major presence, fell 1 percent in the third quarter.
And London’s SABMiller PLC – which has one of the heaviest presences in developing markets – next week is expected to report slowing growth in some of its markets when it reports earnings. Three of its worst-performing markets are Russia, Colombia and South Africa.
Anheuser-Busch Cos Inc. said Thursday its third-quarter profit fell 5.7 percent due to charges for its pending sale to InBev SA, but sales rose in the quarter and the nation’s largest brewer gained market share. The maker of Bud Light and Budweiser said it earned $666.1 million, or 90 cents a share in the three-month period ending Sept. 30. That compares with profit of $706.7 million, or 95 cents a share, a year earlier. St. Louis-based Anheuser-Busch said its earnings include pretax charges of $166.2 million associated with its sale to the Belgian brewer and a retirement program, and gains of $15.3 million from the sale of distribution rights for Grolsch. When stripping those out, the company earned $1.05 a share, which beat analyst estimates by a penny, according to Thomson Reuters. Analysts generally exclude one-time items. Net sales rose to $4.92 billion from $4.62 billion last year, ahead of analyst estimates of $4.88 billion. Anheuser-Busch shareholders are set to vote on the deal next Wednesday. InBev shareholders have already approved the deal.
Shares of Anheuser-Busch rose 45 cents, less than 1 percent, to $64.08 in morning trading Thursday. The company said its U.S. shipments to wholesalers rose 2.3 percent in the quarter and sales to retailers grew 3.6 percent.
Worldwide beer volume rose 3 percent in the quarter.
The Bangor Daily News is reporting that Maine voters have approved a repeal of the recently passed beer, wine and soda taxes, according to preliminary results. The Bangor Daily News is reporting that 64 percent of voters have approved the repeal, while 36 percent voted to uphold the tax.
The Associated Press is reporting that Boston Beer Co., which brews Samuel Adams beer and other beverages, on Tuesday reported a third-quarter loss, reversing a year-ago profit, as costs for ingredients and packaging materials rose. The company also opened a new brewery, booked more charges related to a recall earlier this year and cut its profit forecast for the full year, sending shares falling in aftermarket trading. For the three months ended Sept. 27, the brewer said it lost $295,000, or 2 cents per share, compared with a profit of $3.2 million, or 21 cents per share, in the corresponding period a year ago. The results included a charge of $1.2 million, 8 cents per share, resulting from shortfall fees at other brewers as a result of moving some production to its new Pennsylvania Brewery, and $1.2 million, or 8 cents per share, resulting from additional costs of a recall of certain glass bottles in April.
Revenue rose 20 percent to $101.1 million, from $84.1 million last year. Analysts polled by Thomson Reuters, on average, expected profit of 28 cents per share, on revenue of $102.5 million. Boston Beer said sales of cases to retailers rose by 12 percent for the quarter, and that pricing has increased about 5 percent year to date. The company recorded double-digit growth in Samuel Adams seasonal beers, Twisted Tea and its Samuel Adams Brewmaster’s Collection. The company said it expects minimal charges from the recall in 2009. Recall costs rose to $22.9 million, from the previously announced $20.6 million, due to more returns than expected. About 790,000 cases have been returned as a result of the recall, and 200,000 other cases were pulled out of circulation before being shipped. Boston Beer spent $33.1 million on improvements to the brewery near Allentown, Pa. As a result of moving production to the new site, the company will not meet minimum production requirements spelled out in deals with some other brewing companies, resulting in the charge. Shortfall fees in 2009, if any, “will be significantly less,” the brewer said.